Capsule Endoscopy Market Key Region, Opportunities and Manufacturing Base Forecasts To 2022
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<strong>Capsule</strong> <strong>Endoscopy</strong> <strong>Market</strong> <strong>Key</strong> <strong>Region</strong>, <strong>Opportunities</strong> <strong>and</strong><br />
<strong>Manufacturing</strong> <strong>Base</strong> <strong>Forecasts</strong> <strong>To</strong> <strong>2022</strong><br />
“<strong>Capsule</strong> <strong>Endoscopy</strong> <strong>Market</strong> is driven by the factors such as rising incidences<br />
of gastrointestinal (GI) diseases, the presence of supportive government<br />
initiatives, <strong>and</strong> dem<strong>and</strong> for faster <strong>and</strong> accurate diagnostics tools for<br />
colorectal cancer.”<br />
Industry Insights<br />
The Global <strong>Capsule</strong> <strong>Endoscopy</strong> (CE) <strong>Market</strong> size was valued at USD 454.7 million in 2014 <strong>and</strong> is expected to<br />
grow at a CAGR of 8.7% in coming years. The market is driven by the factors such as rising incidences of<br />
gastrointestinal (GI) diseases, the presence of supportive government initiatives, <strong>and</strong> dem<strong>and</strong> for faster <strong>and</strong><br />
accurate diagnostics tools for colorectal cancer. CE technique gives pain-free visualization of GI tract images,<br />
transmitted through data recorder. Moreover, the introduction of innovatively advanced capsules having a<br />
longer battery life <strong>and</strong> Wi-Fi enabled are anticipated to add to the revenue growth.<br />
With aging, the risk of GI disorders increases. Thereby, exp<strong>and</strong>ing worldwide geriatric population is additionally<br />
offer with a firm growth platform. As per the W.H.O, global population base relating to the age group – 65 years<br />
<strong>and</strong> or more is relied upon to ascend from 7% in 2000 to 16% in 2050. This is anticipated to enhance the patient<br />
base hence, augmenting the development.<br />
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Product Insights<br />
The market is segmented into colon capsule, esophageal capsule <strong>and</strong> small bowel capsule. As of 2016, the<br />
largest share was held by small bowel capsule attributable to its exp<strong>and</strong>ing utilization in various multiple
conditions such as obscure GI tract bleeding, inflammatory bowel disease, small bowel neoplastic lesions <strong>and</strong><br />
Crohn’s disease. On the other h<strong>and</strong>, colon capsule segment is anticipated to exhibit strong development over<br />
the forecast period. According to CDC, each year 608,000 fatalities are caused by colorectal cancer. Every year<br />
more than 14.5 million colonoscopies are performed. Moreover, rising dem<strong>and</strong> for less invasive diagnosis<br />
platform is a key factor assuring the aforementioned conclusion.<br />
Accessories Insights<br />
In 2016, wireless capsule held the leading position amongst the various application segments. The exp<strong>and</strong>ing<br />
utilization rate of wireless capsules in the colon, esophagus <strong>and</strong> small intestine <strong>and</strong> the presence of conducive<br />
reimbursement policies are some major drivers for this segment. Technologically enhanced capsules with inbuilt<br />
components, such as 360-degree panoramic view, easy transmission, enhanced data storage capability, larger<br />
frame rate <strong>and</strong> greater battery life are further providing this segment with lucrative growth opportunities.<br />
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Application Insights<br />
Leading application segments in 2016 was oscure gastrointestinal bleeding (OGIB). As per the research study of<br />
the U.S. National Library of Medicine, CE was found to be more effective as compared to barium X-rays used for<br />
examination of OGIB. This technique is utilized for diagnosis of occult bleeding in the duodenum <strong>and</strong> also for<br />
the diagnosis of small bowel tumors <strong>and</strong> Crohn’s disease. Furthermore, additional advantages such as faster <strong>and</strong><br />
easier diagnosis <strong>and</strong> real-time visualization of the whole small intestine, patients <strong>and</strong> healthcare professionals,<br />
are moving their inclination from conventional methods (i.e. double balloon enteroscopy) to CE. This fact is<br />
projected to establish healthy platform for the development of this segment over the forecast period. Crohn’s<br />
disease application market is expected to experience significant growth because of increasing prevalence this<br />
disease together with adoption of CE technique as preferred diagnosis method.<br />
<strong>Region</strong>al Insights<br />
The largest regional market in 2016 was North America. Rising incidence of colorectal cancer & GI disorders<br />
combined with enhanced healthcare infrastructure, presence of conducive reimbursement policies <strong>and</strong> growing<br />
adoption of invasive capsule endoscopy are a few components estimated to drive regional market growth. Asia-<br />
Pacific market is considered to grow at a highest growth rate due to rising patient awareness levels, disposable<br />
income, advancing healthcare infrastructure <strong>and</strong> huge presence of untapped opportunities pertaining to cancer<br />
screening.
Competitive Insights<br />
The global market is characterized by the presence of companies such as CapsoVision, Chongqing Jinshan<br />
Science & Technology (Group) Co., Ltd, Fujifilm Holding Corporation, Given Imaging, IntroMedic Co., Ltd.,<br />
Olympus Corporation <strong>and</strong> RF System lab. Novel product advancement aimed at augmenting application base is<br />
recognized as one of the most feasible sustainability policies embraced by the producers of CE devices.<br />
Furthermore, the use of magnetic & hybrid capsules permitting enhanced control <strong>and</strong> better imaging are some<br />
of the ongoing research elements, expected to spur market growth <strong>and</strong> reinforce competition over the future<br />
period.<br />
<strong>Market</strong> Segment:<br />
Global <strong>Capsule</strong> <strong>Endoscopy</strong> Accessories Outlook (Revenue, USD Million, 2012 - <strong>2022</strong>)<br />
• Wireless capsule<br />
• Workstation <strong>and</strong> receiver<br />
Global <strong>Capsule</strong> <strong>Endoscopy</strong> Product Outlook (Revenue, USD Million, 2012 - <strong>2022</strong>)<br />
• Small bowel<br />
• Esophageal<br />
• Colon<br />
Global <strong>Capsule</strong> <strong>Endoscopy</strong> Application Outlook (Revenue, USD Million, 2012 - <strong>2022</strong>)<br />
• OGIB<br />
• Crohn’s disease<br />
• Small Intestine tumor<br />
• Others (Celiac, NSAID reactions)<br />
<strong>Capsule</strong> <strong>Endoscopy</strong> <strong>Region</strong>al Outlook (Revenue, USD Million, 2014 - <strong>2022</strong>)<br />
• North America<br />
• U.S.<br />
• Canada<br />
• Europe<br />
• Germany<br />
• UK<br />
• Asia Pacific<br />
• China<br />
• Japan
• Latin America<br />
• Mexico<br />
• Brazil<br />
• MEA<br />
• South Africa<br />
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https://www.millioninsights.com/industry/medical-devices<br />
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